While these are never wished for, I hope Mattel does this right - Really hoping that this round is one where the VPs and Directors who have been mediocre are part of the layoffs, as well as those who have been accountable for letting core brands slide for 3 years - there shouldn't be a "pass" on declining sales 3 years in a row, those people need to go. If there's not significant change in management, it's not going to stop the losses, and there will be more layoffs down the road. Do it once, make it pervasive throughout the company and throughout the levels (up to the C-Level) so that when it's done, people can go back to doing their business. Let them know that all levels of management are held accountable for their failures - not just shuffled around to another group.
10 replies (most recent on top)
Well, at least one director was gone, but not someone who was part of the churn, someone who was on the support end that got stuff done.
which VP at FP was let go? Quite honestly I think they all should be shown the door. Clueless lot of inefficiency.
Agree regarding CFO.
Here is hoping. And, let's hope new and valuable contributions are welcomed vs dismissed, as is the current, sad situation.
VP at Friends?
Good start!
The VP of Marketing in NYC was just let go 😳
I think it's about time that those at the top get a taste of what the "worker bees" have been dealing with for the last several years. After all, they were the decision makers who ended up driving the Fisher-Price preschool business into the ground. Mattel management never understood the preschool business so instead of leaving it to the experts, they got rid of them and drove the business into the ground. So many talented people have been walked out - it's a crying shame. I hope upper management gets what they deserve. Unfortunately, they will all get a huge golden parachute so their life style won't change, just their egos. Others lost their lively hood and have been struggling due to the mismanagement of the leadership of that organization.
More than that, I'll echo what I said earlier: CFO should ABSOLUTELY go. Who do we have to thank for all of this? The person who advised Stockton that his unachievable goals were a good plan for the company then approving this plan. For someone that has access to the highest levels of company finances this seems ludicrous to think for even a moment that he didn't know this would NEVER work. Someone with years of industry experience. Someone with an advanced degree. It's simple math, essentially. Sounds like a bad Oliver Stone conspiracy film, but unfortunately it's now Mattel employees reality. I sympathize with everyone here, but let's recognize who the true architect of this company's collapse is.
You have my vote